Vining Sparks Keeps Their Buy Rating on Huntington Bancshares Inc (HBAN)

By Austin Angelo

In a report released today, Marty Mosby from Vining Sparks maintained a Buy rating on Huntington Bancshares Inc (HBANResearch Report), with a price target of $18. The company’s shares opened today at $13.45.

Mosby observed:

“Our “Strong Buy” rating assumes continued double-digit earnings per share growth along with a higher return- on-tangible common equity should allow HBAN to return to trading above 225% of its price-to-tangible book value. This valuation, coupled with tangible book value growth and a 4.1% dividend yield could produce a total shareholder return of 35% by year-end 2019E.”

According to TipRanks.com, Mosby is a 5-star analyst with an average return of 11.9% and a 61.1% success rate. Mosby covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Fifth Third Bancorp, and Regions Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Huntington Bancshares Inc with a $16.08 average price target.

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Based on Huntington Bancshares Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.33 billion and net profit of $378 million. In comparison, last year the company had a net profit of $432 million.

Based on the recent corporate insider activity of 122 insiders, corporate insider sentiment is neutral on the stock.

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Huntington Bancshares, Inc. operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.